BZD/GBP Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
BZD/GBP currency pair upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 31, 2024)
The BZD/GBP currency pair price fell by -0.0564% on the last day (Friday, 31st May 2024) from £0.390 to £0.390. During the last trading day the currency pair fluctuated 2.60% from a day low at £0.389 to a day high of £0.399. The price has fallen in 6 of the last 10 days and is down by -0.08% for this period.
The currency pair is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £0.388 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect BZD/GBP currency pair with a 90% probability to be traded between £0.390 and £0.406 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BZDGBP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 0.443%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The BZD/GBP currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at £0.395. On a fall, the currency pair will find some support from the short-term average at £0.390. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for BZD/GBP currency pair
BZD/GBP finds support from accumulated volume at £0.389 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the currency pair tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved £0.0101 between high and low, or 2.60%. For the last week the currency pair has had daily average volatility of 2.51%
Our recommended stop-loss: £0.365 (-6.20%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (BZDGBP) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect BZD/GBP to open at £0.393, and during the day (based on 14 day Average True Range), to move between £0.380 and £0.400, which gives a possible trading interval of +/-£0.0100 (+/-2.56%) up or down from last closing price. If BZD/GBP takes out the full calculated possible swing range there will be an estimated 5.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.389 (0.05%) than the resistance at £0.393 (0.90%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is BZD/GBP currency pair A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for BZD/GBP currency pair to perform well in the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.853 Buy Candidate Upgraded
Predicted Opening Price for BZD/GBP of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| £0.393 ( 0.80%) | £0.390 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BZDGBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.403 | 3.40 % | |
| R2 | 0.399 | 2.41 % | ||
| R1 | 0.397 | 1.79 % | ||
| Current price: | 0.390 | |||
| Support | S1 | 0.389 | -0.191 % | |
| S2 | 0.387 | -0.80 % | ||
| S3 | 0.383 | -1.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.398 | 2.02 % | |
| R2 | 0.396 | 1.55 % | ||
| R1 | 0.393 | 0.90 % | ||
| Current price | 0.390 | |||
| Support | S1 | 0.389 | -0.0539% | |
| S2 | 0.388 | -0.441% | ||
| S3 | 0.388 | -0.506% |
FAQ
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